Report
Dan Wasiolek
EUR 101.80 For Business Accounts Only

Las Vegas Sands Reports Solid Macau and Singapore Results; Positioned Well for Japan Opportunity

Narrow-moat Las Vegas Sands saw share gains in its Macau segment (50% of total EBITDA) that were in line with our model. Meanwhile, the company reported stronger results in its Singapore (40%) division, resulting in a planned $1-$2 per share increase to our existing $60 fair value estimate. We maintain our view that Las Vegas Sands is well-positioned in a recovering Macau gaming market, and believe the company is likely to be awarded one of the two Japan urban gaming licenses we expect to be rec...
Underlying
Las Vegas Sands Corp.

Las Vegas Sands is a developer of destination properties (Integrated Resorts) that feature accommodations, gaming, entertainment and retail malls, convention and exhibition facilities, restaurants and other amenities. The company owns and operates Integrated Resorts in Asia and the United States. Through its ownership of Sands China Ltd., the company owns and operates properties including The Venetian Macao Resort Hotel, Sands Cotai Central, The Parisian Macao, The Plaza Macao and Four Seasons Hotel Macao, Cotai Strip, and the Sands Macao. In Singapore, the company owns and operates the Marina Bay Sands. The company's Las Vegas Operating Properties includes The Venetian Resort Las Vegas and the Sands Expo Center.

Provider
Morningstar
Morningstar

Morningstar, Inc. is a leading provider of independent investment research in North America, Europe, Australia, and Asia. The company offer an extensive line of products and services for individual investors, financial advisors, asset managers, and retirement plan providers and sponsors.

Morningstar provides data on approximately 530,000 investment offerings, including stocks, mutual funds, and similar vehicles, along with real-time global market data on more than 18 million equities, indexes, futures, options, commodities, and precious metals, in addition to foreign exchange and Treasury markets. Morningstar also offers investment management services through its investment advisory subsidiaries and had approximately $185 billion in assets under advisement and management as of June 30, 2016.

We have operations in 27 countries.

Analysts
Dan Wasiolek

Other Reports on these Companies
Other Reports from Morningstar

ResearchPool Subscriptions

Get the most out of your insights

Get in touch